Midways a global pandemic without precedents, such as this we are living due to the coronavirus, the consequences on the economy and society can be astonishing.
COVID-19 is infecting thousands of people all over the world, businesses are mostly closed because of the mandatory quarantine and on the breach of bankruptcy, millions of workers are seeing their wages reduced to a fraction of what they had and economists are predicting very poor growth forecasts.
We are living very dark days, and the markets most certainly reflect that.
If this ripple effect has already hitten you, you maybe are considering liquidating your crypto to have money to cope with day-to-day expenses. But we are here to advise not to do that, and here’s why:
1. Buy low and sell high.
The fundamental principle of investing in any type of asset is that you should buy low and then wait for the perfect time to sell high.
Almost all fields of investment had already experienced a crash since the outbreak of this coronavirus started, and the cryptocurrency field isn’t an exception to this. Last month the benchmark crypto fell dramatically by more than 44% in just a few hours.
So if you sell your crypto assets right now, you’ll be selling them for less than you bought them. Which contradicts the basic rule of financial investments.
2. Uncertainty of the times to come.
Do you know how the world will be left once we pass these dark times? Does anyone know for sure how or when will it leave us?
If in normal times, timing the market is a game for professionals, right now even them are left without definite answers.
Also, studies had shown that investors who rearrange investments around to take benefit of new knowledge and assumed possibilities, tend to do worse than those who buy the broad market and walk away.
3. Digital is the now and the future.
With almost the entire world population being mandatory quarantined, everyone is turning to digital opportunities. Be to connect with loved ones, grocery shopping, vanity shopping, continue their jobs or even lookout for investment opportunities.
Ever heard that old habits die hard? The probability is that many of these digital habits we inherited during the quarantine will be kept afterward.
So if cryptocurrency were believed to be the future of trades before we can even think of this worldwide pandemic, the likelihood of this being a future is now even more reassured.
Ultimately, our opinion would be for you to not get rid of your cryptocurrency assets because doing this, in the long-run, you would be losing money. And these times are difficult enough as they are, to even spoil it further and settling with bad deals.
Please keep in mind that this content is meant to educate and inform but should not be taken as financial or investment advice. Trading and investing in cryptocurrencies involves substantial risk of loss and is not suitable for every investor.
But if you have already had a wallet of cryptocurrency, require money for your daily obligations and don’t want to give up on your valuable investments in cryptocurrency, at Nebeus we enable you to get the money you need instantly without liquidating your assets.
With an account at Nebeus created within just 2 minutes, you can convert digital assets (Bitcoin and Ethereum) into funds through a bank card that works via the Mastercard network, with one of the lowest loan interest rates and higher loan-to-value in the industry.
And if you still remain interested in selling your crypto assets, we also have that option available for you.